Flagship Healthcare Properties Grows REIT Portfolio with Tennessee Acquisition

KNOXVILLE, TENNESSEE – JULY 30, 2018 – Flagship Healthcare Properties is pleased to announce it has acquired for its private REIT portfolio, the Knoxville Dermatology Group medical office building in Knoxville, Tennessee. The two story, 28,000 square foot, state-of-the-art medical office building was developed in 2015 and is occupied by Knoxville Dermatology Group, one of the largest private practice groups of board certified dermatologists in Tennessee.

“We are extremely excited to partner with Knoxville Dermatology on the acquisition of such a high-quality medical office building and expand our footprint in Tennessee,” said Gerald Quattlebaum, Senior Vice President of Acquisitions with Flagship Healthcare Properties. “Knoxville Dermatology is a market-leading practice with a 47 year history and we look forward to continuing to work with them in providing first rate healthcare services and facilities to Knoxville and the surrounding areas. It is our belief that healthcare real estate is, first and foremost, a relationship driven business, and we couldn’t be more pleased for the leadership of Knoxville Dermatology to join the Flagship family.”

“All of the physician owners here at KDG are excited about our partnership with Flagship. Throughout the acquisition process Flagship was professional and approachable and never adversarial, giving us a strong indication of their character as a company, ” adds Dr. Matthew Hanggi, M.D. of Knoxville Dermatology Group.

The transaction was brokered by Paul Zeman, President of Healthcare Services for Bull Realty out of Atlanta, GA. Flagship Healthcare Properties will provide asset management services for the building.